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Tag Archives: Molly Jeffcoat Moody

COMMERCIAL FINANCE 701: Practical issues with multi-tiered entity structures

It is quite common – even vogue nowadays – for the ownership structure of a commercial project to include a chain of entities.  Even in a relatively straightforward commercial project, the resulting organizational chart can be convoluted.   (See Chart 1). The older ones among us grew up with corporations as the standard fare, which invariably included shareholders, a board ...

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COMMERCIAL FINANCE 701: The UCC, secured transactions & personal property liens

The Uniform Commercial Code (UCC) has swayed many a law student to question a future career in business law.  A semester of UCC law, using a small font, 3-inch thick textbook chock-full of tedious definitions and mind-numbing concepts, bores even an otherwise indefatigable accounting grad.  Our topic is limited to secured transactions. BACKGROUND.  A smidgen of background information on the ...

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Watkins & Eager adds members

John B. Howell III and Molly Jeffcoat Moody have been named members at Watkins & Eager PLLC. Howell has a litigation-focused practice, with significant experience in commercial litigation, employment and labor litigation, tort and general litigation, medical malpractice and health care, product liability, appellate advocacy and banking, financial services, and securities litigation. Before coming to the firm he clerked for ...

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COMMERCIAL FINANCE 701 — CRE loans, credit underwriting & the Feds in 2016

US banks didn’t have to wait long to learn the Feds’ thoughts on commercial real estate (CRE) loans in 2016.  On December 18, 2015, the trio of federal bank regulators – the Federal Reserve Board, FDIC, and the Comptroller of the Currency – issued a dismal harbinger entitled “Statement on Prudent Risk Management for Commercial Real Estate Lending.” The four-page ...

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COMMERCIAL FINANCE 701 — Real property taxes – ad valorem and more

An observant, pragmatic and penny-pinching Benjamin Franklin once mused, “In this world nothing can be said to be certain, except death and taxes.” The quip distills the issue to its core, but taxes in today’s world are much more complex than Franklin’s succinct quote would suggest. This article is about ad valorem taxes on real property in Mississippi. Ad Valorem ...

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COMMERCIAL FINANCE 701 — Syndications: a super-sized credit facility with multiple lenders

To fulfill whopping credit needs, a corporate borrower may need to avail itself of a syndicated loan.  This article attempts to define, distill and distinguish this divergent financing vehicle. What is a Syndicated Loan or Loan Syndication? As too common in business jargon, “syndicated loan” and “loan syndication” are not precisely defined or uniformly employed terms.  To get us started, ...

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COMMERCIAL FINANCE 701 — Doing business with the Government

  The Founding Fathers would be dumbfounded if they could see our gigantesque government structure. This behemoth annually spends in excess of $6 trillion protecting, regulating, arbitrating, purchasing, managing, lending, insuring, competing, and, more recently, joining public–private partnerships. One of every six full-time U.S. workers is a local, state or federal governmental employee.  Inevitably, doing business will involve contact with ...

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COMMERCIAL FINANCE 701 — Construction contracts and risk mitigation

  A commercial construction project is a multifaceted venture.  The numerous parties, erratic pricing of materials, potential for defects, unpredictable local governments, tight profit margins, and vital financing all contribute to a challenging project.  The parties need a well-drafted construction contract. THE PROCESS Reaching the point of actually needing a construction contract can be exhausting.  Necessary steps include site selection, ...

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COMMERCIAL FINANCE 701 — Enhancing a title policy with endorsements

Although often overlooked, title policy endorsements are an integral part of a commercial real estate title insurance policy.  These optional add-ons greatly enhance the coverage and protection provided to an insured owner or lender. My law partners Molly Jeffcoat Moody and Ben Williams, the usual authors of this column, discussed in a prior column the differences in title certificates, title ...

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COMMERCIAL FINANCE 701 — Appraisals, cap rates & loan dollars

An appraisal is one of the most significant obstacles to a competent developer’s obtaining a commercial loan.  Once received, the anticipated appraisal chiefly goes unread – except for a few critical numbers.  This article discusses appraisals, cap rates and loan dollars. What is an appraisal? Not surprisingly, the feds have their own definition of “appraisal.”  At 12 CFR 225.62, the ...

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